Wednesday, March 18, 2015

Fed Talk

Wow, big moves today after the Fed Talk. The rate didn't change and expectations for a rate hike lowered. Big moves on that news; major indices moved >1%, precious metals gained over 2%. But the bigger moves (or rather bounces from oversold levels) were for oil (almost +5%) and several currencies (even moves of +4% for the euro).

Some divergence that could be a future tell: small caps are making new highs today, while all other major indices are still 1-2% below their recent highs.

The futures chart at the close today:

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